UNAUDITED AND PROVISIONAL RESULTS FOR THE FIRST QUARTER (THREE MONTHS) ENDED 31ST MARCH, 2021

The Board of Directors ("the Board") of Nigerian Breweries Plc ("the Company") hereby announces the following Unaudited and Provisional Results for the First Quarter (three months) ended 31st March, 2021:

Income Statement

Group*

Company

Group*

Company

Group

Company

31/03/2021

31/03/2021

31/03/2020

31/03/2020

Change

Change

Net Revenue

'million

'million

'million

'million

%

%

105,676

105,662

83,226

83,201

27.0

27.0

Cost of Sales

(66,005)

(66,005)

(48,335)

(48,335)

(36.6)

(36.6)

Marketing, Distribution & Admin.

(25,454)

(24,136)

(24,088)

(5.9)

(5.7)

Expenses

(25,549)

Other Income

368

368

181

181

103.3

103.3

Results from Operating Activities

14,490

14,571

10,936

10,959

32.5

33.0

Finance Income

25

25

8

8

212.5

212.5

Finance Charges

(3,001)

(3,001)

(2,647)

(2,666)

(13.4)

(12.6)

Profit Before Tax

11,514

11,574

8,297

8,301

38.8

39.4

Income Tax

(3,855)

(3,849)

(2,770)

(2,764)

(39.2)

(39.3)

Other comprehensive income, net

of tax

7,660

7,725

5,527

5,537

38.6

39.5

Total Comprehensive income for

the quarter

7,660

7,725

5,504

5,537

39.2

39.5

Attributable to:

Owners of the Company

7,658

7,725

5,505

5,537

39.1

39.5

Non-controlling interest

2

1

Total Comprehensive income for

7,725

5,506

5,537

the year

7,660

39.1

39.5

Earnings per Share

Basic Earnings Per Share (kobo)

96

97

69

69

39.1

40.6

Fully Diluted Earning P/Share (kobo)

96

97

69

69

39.1

40.6

The detailed Financial Statements for the year are available on the Company's website, www.nbplc.com/investor-relations.

*Group results include the figures of 234 Stores Limited and Benue Bottling Company Limited, a non-functioning subsidiary of the Company.

COMMENTS

The impact of Coronavirus (Covid-19) pandemic on the economy and by implication, the Company continued during the period under review. Our priority remained protecting the health, safety and welfare of employees, customers and partners. We regularly monitored and evaluated the Company's financial position and performance in the light of the pandemic; our Balance Sheet remained strong. The focus of the

DIRECTORS: Chief K.B. Jamodu, CFR - Chairman; J. Borrut Bel (Spanish) - Managing Director/Chief Executive; A.O. Aroyewun (Mrs); S. Hiemstra (Dutch); R. Kleinjan (Dutch); N.O. Nwuneli (Mrs), MFR; I.M. Omoigui Okauru (Mrs), MFR; R. Pirmez (Belgian); S.L.M. Siemer (Dutch).

Board and Management remained the mitigation of the impact of the pandemic on the business.

Dated the 22nd day of April, 2021

By Order of the Board.

Uaboi G. AGBEBAKU, Esq.

Company Secretary

FRC/2013/NBA/00000001003

Iganmu House, Abebe Village Road

Iganmu, Lagos, Nigeria

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NB - Nigerian Breweries plc published this content on 23 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 19:40:01 UTC.